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Tape is my shape (tape reading, time and sales)
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Tape is my shape (tape reading, time and sales)

  #571 (permalink)
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rocky9281 View Post
1. 50,000 on offer-Seller is big guy (if all 50,000 come from 1 guy)
3 secs it get filled- buyer is also big guy.

Here we establish long OR short and be ready to reverse position. Am I correct?

2.We need to have one more parameter here. Is price getting support here? Lets assume price is being supported here.

There may be 2 situations here:
  • There is actually no bid, but price not going down because there is no seller too. So not enter any trade here
  • There is a large bid which is hidden. Price getting support in spite of selling. So, this is a place to enter long.
How do we differentiate the above 2 scenarios?

Case 1-slow tape
Case 2-fast tape,nice filling,but price unable to break support.

Am I correct?


3. No, there is a huge buyer. Time to go long.Right?


4. Very weak buyers. Time to short..Right?

you do not know is there bid orders. You do not know hiden are they or not. You do not know anything. Only that huge ask was filled with very fast speed.
You do not see is there price support or not.
Lets assume 100$ is a high of the day.
This all you got. What will you do?

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  #572 (permalink)
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bloom View Post
you do not know is there bid orders. You do not know hiden are they or not. You do not know anything. Only that huge ask was filled with very fast speed.
You do not see is there price support or not.
Lets assume 100$ is a high of the day.
This all you got. What will you do?

You have a choice in any scenario. You can trade now or you can wait for confirmation and trade later.

At this point, if 50k go through at the high of the day, you know that potential shorts are going to jump on that and that the people buying into the level are going to have to sell if they get caught with their pants pulled down. There is a lot of room to move downside and you can get in with minimal risk.

Still - that's not really Tape Reading.

If it's 50k orders going through at a single price level and they are market orders of size, I'd personally wait it out. You have 2 larger players going head to head at this point. This is not a good place to trade.

If on the other hand, I saw a lot of buying and then it stopped or the large orders turned into small ones or the tape slowed down, I'd be all over it. Also if price ticked up but nobody brought the next price up - again, all over it.

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  #573 (permalink)
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DionysusToast View Post
You have a choice in any scenario. You can trade now or you can wait for confirmation and trade later.

At this point, if 50k go through at the high of the day, you know that potential shorts are going to jump on that and that the people buying into the level are going to have to sell if they get caught with their pants pulled down. There is a lot of room to move downside and you can get in with minimal risk.

Still - that's not really Tape Reading.

If it's 50k orders going through at a single price level and they are market orders of size, I'd personally wait it out. You have 2 larger players going head to head at this point. This is not a good place to trade.

If on the other hand, I saw a lot of buying and then it stopped or the large orders turned into small ones or the tape slowed down, I'd be all over it. Also if price ticked up but nobody brought the next price up - again, all over it.

Reaction. You need to see what reaction market will do on this kind of information and go with reaction. This is the universsal mechanism information-reaction
If you see how 50 k get filled and market began to speed up and other ask limits fill with same force than there is long
If you see 50 k get filled and market slow down and speed fade away, than this is another reaction and long very danger but short good and potencail very big at the top of the day.

So we have ,same prints with differ reactions would have different outcomes.

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  #574 (permalink)
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This is it. What will you do at this point?

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  #575 (permalink)
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And at this point

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  #576 (permalink)
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What you will do in this situation?
Guys upload pics. We can to talk endless wtihout examples. This is not very good idea to talk without them

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  #577 (permalink)
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bloom View Post
Attachment 54808
This is it. What will you do at this point?

*124.10 was Huuuge Ask size..which got filled very fast.
*Now buyers hitting 124.11
*Price not falling even for a single tick.

Big Buyer(s) win..Big seller(s) loose

Place to go long

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  #578 (permalink)
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bloom View Post
Attachment 54809
And at this point


Cannot tell what is going on

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  #579 (permalink)
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bloom View Post
Attachment 54809
And at this point


This is nothing personal but I would never trust the T&S on TOS the data is just not reliable. Compare that to a T&S with IQFeed and you will see a noticeable difference.

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  #580 (permalink)
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bloom View Post
Attachment 54812
What you will do in this situation?
Guys upload pics. We can to talk endless wtihout examples. This is not very good idea to talk without them

left TNS:

Big Buyer on the way of defeating Big sellers by eating all the huge ask sizes (11:08:06 to 11:08:22 ). Everything was looking bullish.
Should have bought here.

right TNS
Sellers become stronger than before:
* Price came down from 123.89 to 123.79
* Still Huge ask present
* Good quality filling on ask going on, but cannot eat all ask.
Suddenly, the seller become stronger than buyer. Time to get stop out or reverse position

Correct?

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